Activision Blizzard (ATVI) reported adjusted quarterly profit of $1.29 per share, one cent above estimates. But the videogame publisher's revenue missed estimates, as does the company's forward guidance. Activision also announced it would cut its workforce by about 8 percent, even as it boosts the number of developers by about 20 percent to increase new content.
Amazon (AMZN) and General Motors (GM) are both in talks to invest in electric pickup truck maker Rivian Automotive, according to a Reuters report. The deal being discussed would value Rivian at $1 billion to $2 billion.
TripAdvisor (TRIP) fell two cents short of estimates with adjusted quarterly profit of 27 cents per share, although the online travel review site operator did see revenue beat Street forecasts. Average monthly unique visitors were up 2 percent over a year earlier, but unique hotel shoppers fell by 11 percent.
Akamai Technologies (AKAM) reported adjusted quarterly profit of $1.07 per share, beating the $1.00 consensus estimate, while revenue also beat analyst forecasts. Akamai, which provides cybersecurity services and technology that speeds up internet content, also announced the retirement of its Chief Financial Officer Jim Benson.
Groupon (GRPN) fell three cents shy of Street forecasts with adjusted quarterly profit of 10 cents per share, although the daily deals provider did see revenue beat estimates. Active North American customers fell by 2.5 percent from the prior quarter.
General Electric (GE) won the most orders for gas turbines in 2018, according to a closely-watched report seen by Reuters. However, GE fell to second place in the rankings for the largest and most advanced machines, behind Mitsubishi Hitachi Power Systems
DocuSign (DOCU) was upgraded to "buy" from "hold" by Deutsche Bank, which also increased its price target on the electronic document technology company's stock to $65 per share from $50. Deutsche Bank cites both valuation and its recent talks with four of DocuSign's largest e-signature customers.
Twilio (TWLO) reported quarterly profit of four cents per share, matching estimates, while the cloud computing company saw revenue beat Wall Street forecasts. Twilio, which has been increasing its spending on sales, marketing, and research, also gave weaker than expected guidance for the current quarter.